The morning's top headlines, June 8
The morning's top headlines, June 8
Investors will be hoping for strength from BABA as it approaches its next earnings release, which is expected to be November 2, 2018. On that day, BABA is projected to report earnings of $1.16 per share, which would represent a year-over-year decline of 10.08%. Investors should also note any recent changes to analyst estimates for BABA.
Shares of American Airlines Group (NASDAQ: AAL) popped 6.4% in early trading Wednesday before retracting to close the day up less than 1% -- just 0.9%, to be precise. An upgrade assigned to the stock by Deutsche Bank appears to be the primary reason for the move. A Deutsche Bank analyst upgraded American Airlines stock from "hold" to "buy" on Wednesday, as we're told by our friends at StreetInsider.com.
Beth Comstock is the former vice chair of General Electric. Comstock would hand out "permission slips" authorizing employees to take risks — but she also said it's important for people to stop hiding behind their excuses. Beth Comstock doesn't tolerate excuses.
Chip giant Intel is restructuring its technology and manufacturing business group as it chases more connected device markets and grapples with delays on its next chip generation. In a memo to employees, reviewed by the Business Journal, Group President and Chief Engineering Officer Murthy Renduchintala described splitting the technology and manufacturing business into three groups. The three new groups are technology development, manufacturing and operations and global supply chain.
Billionaire investor and philanthropist Ken Langone, the founder of The Home Depot (HD) and chairman of Invemed Associates, argued that there’s some “big time” structural problems in the market right now. Because if we are on a trajectory of raising rates that means, and if it keeps going that way and I don’t know how high it will go, and it keeps going that way then all the sudden the guy who bought those bonds is going to be looking at a fairly decent loss,” Langone said.
Advanced Micro Devices (AMD) is expected to deliver a year-over-year increase in earnings on higher revenues when it reports results for the quarter ended September 2018. This widely-known consensus outlook gives a good sense of the company's earnings picture, but how the actual results compare to these estimates is a powerful factor that could impact its near-term stock price. The earnings report, which is expected to be released on October 24, 2018, might help the stock move higher if these key numbers are better than expectations.
The company said on Wednesday it expects to return about C$1.2 billion ($921.5 million) or C$11.40 per restricted voting share from the sale to its shareholders. Its parent, U.S.-based Kinder Morgan Inc, closed the sale of the controversial Trans Mountain pipeline to the Canadian government for C$4.5 billion in August. Kinder Morgan Canada said net income rose to C$1.35 billion in the three months ended Sept. 30, from C$42.4 million, a year earlier.
Whatever you call it, you can buy marijuana legally in Canada for recreational use beginning today. The opening of Canada's recreational market is a significant win for pro-pot activists and it opens the door to billions of dollars per year in new revenue for Canada's top marijuana companies. Read on to find out how big Canada's marijuana market could be and if you should invest in marijuana stocks on this news.
Smithfield Foods, Inc. said in a statement Tuesday that it disposed of more than 50,000 pounds of product after reports of an employee urinating at his station at the company’s processing facility in Virginia.
State treasurers from Illinois, Rhode Island and Pennsylvania, and New York City Comptroller Scott Stringer, co-filed the proposal. A similar shareholder proposal seeking an independent chair was defeated in 2017 at Facebook, where Zuckerberg's majority control makes outsider resolutions effectively symbolic.
Home Depot Stock Falls 4.5% on Credit Suisse’s Downgrade Credit Suisse’s downgrade Today, CNBC reported that Credit Suisse downgraded Home Depot (HD) stock from “outperform” to “neutral.” Credit Suisse lowered its price target from $222.00 to $204.00
After two consecutive off-the-mark quarters, falling short of its own forecasts for subscriber growth, Netflix Inc. hopes to put an end to the big swings in its stock price with some changes to its accounting. Three months ago, Netflix reported weaker-than-expected subscriber growth, sending its stock tumbling about 12% in the next trading day. From last quarter: Is Netflix stock falling down a mountain, or just tripping over a molehill?
Walmart Inc. has found a new way to save millions of dollars: Switch the floor wax it uses in its stores. According to the retail giant’s Chief Financial Officer Brett Biggs, Walmart (WMT) switched to a new floor wax that’s both cheaper and more effective, reducing the number of times the floors have to be buffed. “That one change in floor wax will save us over $20 million a year,” he said, according to a FactSet transcript of the company’s Tuesday investment community meeting.
The retailer received approval on Tuesday to access a $300 million loan to keep it afloat during bankruptcy. Sears Holdings soared as much as 124% — one day after filing for bankruptcy — as the embattled retailer received approval to access a $300 million loan to keep it afloat during bankruptcy.
Here’s a look at some of the companies the Yahoo Finance team will be watching for you today. IBM investors aren’t thrilled with the latest earnings report. The company posted a beat on earnings but revenue missed. CEO Ginni Rometty says the results show
Investing.com - Home Depot (NYSE:HD) and other housing-leveraged stocks fell in midday trading following disappointing data on home construction. Home Depot fell about 4.2% at 12:08 PM ET (16:08 GMT) and was a drag on the Dow Jones Industrial Average
Canada’s moves to legalize recreational marijuana could have major impacts on the US. Yahoo Finance’s Alexis Christoforous speaks with Alexis Keenan about the state of legalization in this country.
Home Depot (NYSE: HD) and Lowe's (NYSE: LOW) have helped countless homeowners increase the value of their homes. They've also made many investors rich. With their shares having soared 879% and 484%, respectively, over the past decade, Home Depot and Lowe
The market expects AT&T (T) to deliver a year-over-year increase in earnings on higher revenues when it reports results for the quarter ended September 2018. This widely-known consensus outlook is important in assessing the company's earnings picture, but a powerful factor that might influence its near-term stock price is how the actual results compare to these estimates. The stock might move higher if these key numbers top expectations in the upcoming earnings report, which is expected to be released on October 24.
General Electric's new CEO told France's finance minister on Wednesday that it would stick to his predecessor's French job pledges or pay a penalty, the Finance Ministry said. Former CEO John Flannery warned French Finance Minister Bruno Le Maire in June that the target was "out of reach", and the government raised the possibility of fines worth 50,000 euros ($57,570) for each job not created. GE's new CEO Larry Culp, who took up his post at the start of the month, told Le Maire in a meeting on Wednesday that France remained a strategic country for the company, the ministry said in statement.
After historic legislation that moved Canada as the first G7 member state to legalize recreational marijuana, it became official. This has significant implications, especially for marijuana stocks. As such, investors should strongly consider marijuana stocks to buy, irrespective of their personal reservations.
Kinder Morgan (NYSE: KMI) will be releasing its next round of earnings Wednesday. For all of the relevant information, here is your guide for the Q3 earnings announcement. Earnings and Revenue Analysts expect Kinder Morgan earnings of 21 cents per share
CNBC's Jim Cramer checks in on FAANG after Netflix's earnings beat to see how shares of the technology giants are holding up. Alphabet and Amazon's stocks look "ripe to buy" after the recent sell-off, the "Mad Money" host says. CNBC's Jim Cramer has spotted some attractive buying opportunities in FAANG — his acronym for the stocks of Facebook FB , Amazon AMZN , Apple AAPL , Netflix NFLX and Google, now Alphabet GOOGL — after the market's latest sell-off.
Long before he was Secretary of the Treasury, Steven Mnuchin was a student at Yale University. One of those was Eddie Lampert. Lampert, of course, is the recently departed CEO of Sears Holdings, which filed for Chapter 11 bankruptcy Monday.
HOUSTON (AP) _ Kinder Morgan Inc. (KMI) on Wednesday reported third-quarter earnings of $732 million. On a per-share basis, the Houston-based company said it had profit of 31 cents. Earnings, adjusted for non-recurring